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Keywords

Financial Attitude, Financial Behavior, Financial Knowledge, Mediator

Abstract

Financial literacy is shown to be an important life skill for people. It influences people every day financial decisions and has a macro impact on the economy and financial satisfaction of the society. Studies revealed financial literacy to cover three dimensions: financial knowledge, financial attitude and financial behavior. This research aims to examine the interrelationship between the three components of financial literacy. The main objectives of the current research are: a) firstly, to provide some evidences of the existing literature on the linkage between financial knowledge, financial attitude and financial behavior; b) secondly, to inspect this association in the case of Albanian university students; c) thirdly, to investigate the mediating effect of financial attitude on the connection between financial knowledge and financial behavior; d) finally, to present some conclusions and recommendation for parents, school and future researchers. The main research questions addressed in this study are: 1) Is there any relationship between students’ financial knowledge and their financial attitude and behavior in the case of Albania? 2) Does financial attitude serve as a mediator factor between financial knowledge and financial behavior? The database for this investigation is provided by a survey conducted on 637 students from eight universities in Albania and is part of my dissertation study. Person correlation technique and linear regression model will be employed to analyse the database. Results of this study demonstrate a statistically significant relationship between the three components of financial literacy. In addition, financial attitude is discovered to play a mediating effect on the association between financial knowledge and financial behavior. Future research can be undertaken to explore whether financial knowledge serves as a mediator in the linkage between financial attitude and financial behavior.

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